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Legal fee reporting to a C corporation
December 13, 2021
Q. I have a vendor we have paid that is an LLP and the W-9 is marked as a C-Corp and therefore our vendor is not setup as 1099 reportable. The payment was for 'legal fees'. Does this need to be 1099 reportable? What questions do I need to ask the business to determine if and where this is reportable?
A.
(Answered by a 3rd party, independent advisory services firm offering experienced and practical help for tax regulatory compliance for Forms W-9, W-8, W-2, 1099, 1098, 5498, 945, 1042, 1042-S,…
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Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know.
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